How will the pH of the body fluids be affected?

keep this in mind: the law of mass action means that if you increase one of the starting materials (or products, basically anything) in a reversibel reaction, the reaction will shift in the opposite direction.
CO2 + H2O <-> H2CO3 <-> HCO3-  + H+
for example, if i increase CO2 concentraions, then the reaction will shift right and more bicarbonate (HCO3-) will be formed.
as another example, if i DECREASE H+ the reaction will shift to the right
basically: if you increase something in the reaction, it will shift AWAY from it
if you decrease something in the reaction it will shift TOWARDS it
so now, if you hyperventilate (breathe super fast) you have a lot of oxygen in you, and little CO2.
if you dont have very much CO2 in you, take a look at the equation and see which way it will shift. it will shift to the left! (ie. TOWARDS the CO2 side of the equation) so, how will this affect ph?
notice that as the reaction shifts to the left (towards CO2) the H+ concentrion will actually decrease! what does this mean? a decrease in [H+ ] = a higher pH!
the pH will increase